Louisiana Property Division Factors
In Louisiana, the property and debt issues are typically settled between the parties by a signed Marital Settlement Agreement or the property award is actually order and decreed by the District Court within the Final Judgment of Divorce.
Louisiana is considered a "Community Property" state. Community property is defined as all property and debt that was acquired from the date of marriage until the marital cut-off date. The community assets will be split equally by the District Court if the spouses are unable to reach an agreement.
All separate property like gifts, inheritances, and property owned prior to the marriage will remain with each spouse and then all other property will be split equally. The court will take to consider the needs of each spouse when determining how the property is to be split and each spouse has the right to ask the court to be awarded the marital home. When deciding who should be awarded the marital home, the spouse who will have custody of the children is typically the court favorite. When making this decision regarding the marital home, the court will consider the following factors: the value of the spouse’s property, the economic needs and circumstances of each spouse; the needs of the children; and also the court will consider on a case-by-case the contributions each spouse made to the acquisition of the community property s well as future earning potential. (Louisiana Code of Civil Procedure - Article: 121)
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